People often start considering an estate plan when they get older. Ultimately, you never really know when it’s your time to say goodbye, but having an established plan in place for that time can only help you in the long run. It can be supremely difficult to prepare for the end, as you often don’t know that it’s coming. However, sometimes you do know, and there are actions you might want to take sooner rather than later with a Missouri estate planning lawyer’s help.
There’s nothing wrong with being prepared when it comes to having an estate plan. After all, the last thing you want is to pass away without a proper estate plan in place. That would trigger Missouri’s intestate succession laws, which would guarantee that your estate passes to your closest living relative. That might be the last thing that you would want to happen. You should consider reaching out to an experienced estate planning lawyer who can help you prepare.
Hiring an Accomplished Estate Planning Lawyer
As you start putting together an estate plan, or at least thinking about it, the most important decision you could make is hiring the right estate planning lawyer to oversee the creation or modification of your plan. You will want the right person involved in every aspect of your plan so you don’t risk making a mistake. The multi-state team at Stange Law Firm has helped countless individuals and families with their estate plans. We can assist you with yours, too.
According to statistical data gathered by the US Census Bureau, the average household income for a family of four in Missouri is around $106,000 per year as of 2024. To many families, that’s more than enough income to justify forming a trust, drafting a will, or establishing an estate plan and including both documents. A lawyer can help you draft the proper documentation, establish a power of attorney, and make sure the right people benefit from your estate.
It’s not uncommon to start considering an estate plan once you reach a certain age. Some elderly people can’t help but start contemplating their own mortality, and that often includes making sure their loved ones are taken care of. Having that conversation can be difficult, and you might want to consider reaching out to a local grief support group like GriefShare to assist in leading the discussion. They can ensure everything stays on the right track and all talking points are met.
Preparing for the End
Preparing for death is hard enough without also having to consider every aspect of your estate plan. That’s where a lawyer really comes through. They can handle all the finer details of your plan and make sure you don’t make any mistakes. After knowing your wishes and concerns for the plan are being handled, you can prioritize other elements that you know must be handled before you move on. These are some of the possible elements you may need to handle:
- First and foremost, you have to have a frank conversation with your family about everything you intend to include in your estate plan. You don’t want to leave certain people in the dark and cause them to contest everything after you’re gone. By including not just immediate family but also extended family and even family friends, you can make sure everyone connected to your plan knows what to expect when you’re gone.
- You will also want to make sure you organize your affairs before it’s too late. Your lawyer can help with this. You could even put them in charge of doing this for you. Make sure all your important documents are easy to find, such as your bank accounts, assets, investments, and the estate plan itself. Make sure your lawyer knows the location of your will, if you have one.
FAQs
Q: Do I Need a Lawyer to Modify My Estate Plan?
A: No, you do not need a lawyer to modify your estate plan. If you have been through the process before and understand how everything works, there’s no reason why you can’t go into your estate plan yourself and change what needs to be changed. However, if you have never done it before, a lawyer can help you do it right and guide you through the process. Ultimately, it’s entirely up to you.
Q: Will My Estate Plan Update Automatically After a Life Event?
A: No, your estate plan will not update automatically after a life event. It will be your responsibility to go in and change something if there is a birth, death, adoption, marriage, or divorce in your life. In the event of a divorce, though, your spouse is immediately removed from your will. You don’t have to do anything. However, they may still be named in other parts of your plan, such as a power of attorney. You should fix that as soon as possible.
Q: Why Is Estate Planning Important?
A: There are many reasons why estate planning is important. Primarily, it’s a way for you to protect your loved ones in the event of your death and make sure that they are taken care of by your estate. Without a proper plan in place, it’s entirely possible that the probate court will ignore your wishes and proceed with Missouri’s intestate succession laws. You don’t want the wrong people to end up benefiting from your generosity.
Q: Can an Estate Planning Lawyer Help Me?
A: Yes, an estate planning lawyer can help you. Their primary job is to protect your interests and ensure no one tries to take advantage of you during the estate planning process. In many ways, an estate planning lawyer’s help throughout this ordeal can be invaluable. You don’t want to end up making a crucial mistake that voids the will or prevents your beneficiaries from receiving what you’ve left for them. A lawyer’s help can avoid those uncomfortable situations.
Contact Us Today
At Stange Law Firm, we understand how delicate and complicated estate plans can be, especially if you are already preparing for the end. Contact us to speak to someone about your case.